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Are timeshares worth it? Possibly, if you buy smart and plan in advance

Best places to buy a second home in New England and the Mid-Atlantic

An analysis by Rented.com shows the best places to buy a vacation rental/second home in New England and the Mid-Atlantic states. No. 1. Killington, Vermont; 88.3 points out of 100. Excellent skiing is just one of the charms of this beautiful year-round resort town; located in the picturesque Green Mountains of central Vermont.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 2. Bangor, Maine; 69.5. The enormous statue of Paul Bunyan may bring you to Bangor, but its central location as a hub for all to do in Maine will keep you here.
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Best places to buy a second home in New England and the Mid-Atlantic

Best places to buy a second home in New England and the Mid-Atlantic

No. 4. Portland, Maine; 51.6. Cobbled streets are the first clue of how special Portland is. The many restaurants serve up cuisine far beyond the famous lobster. Don’t pass up a chance to take a sunset sail in the gorgeous harbor.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 5. Bar Harbor, Maine; 49.9. Come for the beautiful town, stay for a hike in breathtaking Acadia National Park, which draws a steady flow of tourists from around the world.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 6. Burlington, Vermont; 49.1. Situated on stunning Lake Champlain, Burlington combines the small town feel of Vermont with the culture of a larger city and the near endless events of the University of Vermont.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 7. Snowshoe, West Virginia; 49.0. Country roads, take me home. This mountain destination is a great opportunity for rental property buyers looking for affordable entry prices, especially if personal use and enjoyment factor into your investment decision.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 8. Virginia Beach, Virginia; 47.9. The rental market in Virginia Beach is steady, as the area is a desirable destination for tourists, snowbirds, and military families alike.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 9. Plymouth, Massachusetts; 46.2. There is so much more to do than visit Plymouth Rock and Plimoth Plantation. Located between Boston and Cape Cod, don’t pass up the chance to check out the whale watching and many water sports.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 10. Kennebunkport, Maine; 46.1. Take a stroll on Arundel or Goose Rocks Beach, or have lunch with George Bush and family at their summer home (just kidding!). Kennebunkport offers something for nearly everyone, including the Seashore Trolley Museum and the unique Goat Island Lighthouse.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 12. Newport, Rhode Island; 41.6. Once the playground of the 19th century’s rich and famous, no visit is complete without a tour of the Gilded Age mansions on Bellevue Avenue, which the Vanderbilts and others once called “cottages.” Did you know Newport is home to the International Tennis Hall of Fame?
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Best places to buy a second home in New England and the Mid-Atlantic

No. 13. Arlington, Virginia; 39.6. Arlington is known for its proximity to D.C., but also has its own nightlife, public transportation, outdoor spaces, and other fun activities. Rents are high – albeit less than D.C. – but properties are easy to keep occupied, and it’s a great location for short-term rentals for frequent D.C.-based contract workers.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 14. State College, Pennsylvania; 37.3. This college town – home to Penn State University – is in high demand with a large pool of tenants, and offers landlords fewer vacancies.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 15. Rehoboth Beach, Delaware; 31.6. As the popularity of rental booking and marketing technology has grown, so has the popularity of this Delaware beach town.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 16. Pittsburgh, Pennsylvania; 30.7. The Steel City is moving beyond its industrial roots into the information age, and is a hot market for rental investment as high demand offsets higher purchase prices.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 17. Provincetown, Massachusetts; 30.5. At the tip of Cape Cod, P’town began as a fishing community, evolved into an artists’ enclave, and continues to change even today. Day trippers can easily take the high-speed ferry to and from Boston. Don’t pass up the galleries, restaurants, and of course, the beaches.
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Best places to buy a second home in New England and the Mid-Atlantic

No. 18. Boston, Massachusetts; 29.3. In the cradle of the American Revolution, it’s hard to know where to start. History buffs could easily spend a month and not see it all. Baseball fans can’t miss Fenway Park, which opened in 1912 and is one of the most intimate baseball stadiums in the country.
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Best places to buy a second home in New England and the Mid-Atlantic

Best places to buy a second home in New England and the Mid-Atlantic

No. 20. Washington, D.C.; 25.5. D.C. is expensive – for both renters and owners – but the nation’s capital still makes the list because a transient population creates steady, high demand.
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Best places to buy a second home in New England and the Mid-Atlantic

An analysis by Rented.com shows the best places to buy a vacation rental/second home in New England and the Mid-Atlantic states. No. 1. Killington, Vermont; 88.3 points out of 100. Excellent skiing is just one of the charms of this beautiful year-round resort town; located in the picturesque Green Mountains of central Vermont.

Liz Weston, NerdWallet.com
Published 3:00 p.m. ET July 7, 2018

Many people are desperate to shed their timeshares. That provides bargains for timeshare enthusiasts like Angie and Mike McCaffery of Los Angeles.

The retired couple have paid as little as 50 cents for “used” timeshares. They’ve parlayed their timeshare weeks at four mainland U.S. resorts into affordable stays in England, Spain, Costa Rica, Hawaii, Mexico and the Caribbean.

“You hear all the nightmare stories, but if you know how to work it and you can plan ahead, it’s the best thing ever,” says Angie McCaffery, 71.

Timeshares are a way to use vacation property, typically resort condominiums with bedrooms and kitchens, for a week each year. In addition to the upfront cost of buying, owners must pay annual maintenance fees, which currently average about $900 but can total $3,000 or more for higher-end properties.

Timeshares may be a specific week each year, or “floating weeks” that can change from year to year, or “points” that can converted into reservations for days or weeks at timeshare resorts. Most timeshares offer exchange opportunities that allow owners to stay at other resorts if they plan well in advance.

The details can vary quite a bit, but people who are satisfied with their timeshares tend to have several things in common, says Brian Rogers, owner of Timeshare Users Group, one of the oldest forums for timeshare owners.

Happy timeshare owners:

Understand that timeshares aren’t a financial investment

The average cost of timeshares sold by resort developers has risen over time and now tops $20,000, according to the American Resort Development Association, an industry trade group. Unethical salespeople use that fact to imply, or even assert, that the timeshare you buy will increase in value. That’s not true. On the resale market, the typical timeshare sells for 10% or less of what the original owner paid, Rogers says. TUG, eBay and other sites are full of “for sale” ads from owners willing to sell for just a penny.

Don’t buy a timeshare on vacation

Timeshare salespeople are often much better at selling than you are at resisting — especially when you’re relaxed and having a great time. That’s no state of mind to be in when you need to scan the details of a contract, assess potential exchange options and uncover things that can go wrong, such as rising annual maintenance fees or problems trading your share.

If you’re interested in a property, Rogers recommends renting from an existing timeshare owner to see how much you like it. But don’t sign up on the spot.

Don’t pay retail

The McCafferys bought their first timeshare in 1994 from a developer, paying $15,000 for a two-bedroom condo in Palm Desert, California. Later they learned they could save thousands buying directly from other timeshare owners who no longer wanted to pay their annual maintenance fees. (People who simply stop paying their fees risk having the debts turned over to collection agencies, which can sue them and trash their credit.)

In 2006, the McCafferys bought a one-bedroom timeshare in Park City, Utah, for $100 on eBay. Four years later, they paid $1 total for two timeshares, a one-bedroom unit in New Orleans and a two-bedroom unit in Ruidoso, New Mexico.

Developers often offer incentives for buying retail, such as frequent traveler points or VIP treatment, but “those are almost never worth paying $19,000 or $20,000 extra for,” Rogers says. “For that money, I’ll get my own limo from the airport.”

Buy in attractive locations

Don’t buy a timeshare in an undesirable location on the promise you can trade it to stay in more desirable ones. If you don’t want to vacation there, chances are potential exchange partners won’t, either.

The McCafferys prefer buying fixed-week timeshares. That way, if they don’t want to trade for another property, they’re guaranteed access to their properties each year without having to make advance reservations. Floating-week and point systems typically require more planning, since desirable weeks are snapped up early or require more points the longer people delay.

Enjoy research and planning

Learning the ins and outs of each timeshare system takes effort. While point systems are often touted as a way for people to vacation at the last minute, the reality is that the best deals have to be secured nine to 12 months in advance, Rogers says.

That’s actually a plus for people like Angie McCaffery, who typically starts researching the couple’s vacation options a year or more ahead.

“Half the fun of it is planning it,” she says.

This article was written by NerdWallet and was originally published by The Associated Press.

Liz Weston is a writer at NerdWallet. Email: lweston@nerdwallet.com. Twitter: @lizweston. The article Are Timeshares Worth It? Possibly, if You Buy Smart originally appeared on NerdWallet. NerdWallet is a USA TODAY content partner offering personal finance news and commentary. Its content is produced independently of USA TODAY.